How to Sell Your Product to Retailers
Retail buyers will grill you until they get enough answers to make an informed decision whether or not to buy your product because their senior management will ask them all the same questions before approving the purchase. Below is a list of typical questions that a retail buyer may ask you. Knowing the answers to these questions beforehand will help you prepare for your meeting with the retail buyer. Typical product-related questions:* How was the product developed/conceived?* Who is your competition?* Are you priced competitively?* Who is the target customer for this product?* What is my cost of the product?* What is the target sell price of the product?* What other retailers are selling your product?* Can your product be knocked off (do you hold patents?)* What are your lead times to produce and ship the product?* Has your product been tested and certified (e. g. all products with a power cord like a TV or a hairdryer must be UL certified)?* What is the warranty of your product (i. e. if the product has an issue, how will you service the product)?* What is the average defective rate for your product?* How is your product packaged to ship to the retailer?* How is your product packaged to sell (e. g. , box,clam-shell, clip strip)?* Are product samples available for testing?* What marketing funds are available from you to help sell the product?* What is the minimum order requirements to purchase your product?* Will you offer training on your product to the retailer’s sales associates?* Will you ship free freight to the retailer’s warehouses? As a retail coach and consultant, I encourage you to reach for your goals and sell that product of yours to your target retailers. If you need more help, please visit our website (www. retailbound. com). Retailbound helps potential vendors like you to learn how to sell to and work with retailers of all shapes and sizes. We offer one-on-one coaching as well as online workshops. We look forward in working with you soon!
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